Media, another ancillary market within Cannabis poised for success
The explosion of the Cannabis market since 2012 when Colorado and Washington became the first states in the country to legalize recreational consumption is, to say the least, utterly impressive. With sales in Colorado alone in 2016 reaching over $6.7 billion; it is projected that the entire US market will reach a worth of around $24 billion by 2025.
Leafly is the top source for information on Cannabis strains, searching for the best deals in your area, and content about consumption that helps consumers make better purchasing decisions. Their estimated worth is around $46 million and is consistently growing. They’re paving the way to transparency and have already positioned themselves as the go-to education outlet for businesses and consumers alike— and the company never even touches a trichome.
This company which many have dubbed the “Instagram” of Cannabis, was started because sites like Instagram wouldn’t allow the content they wanted to promote because of Cannabis’ federal classification. So the then 22 year old co-founders started their own platform for sharing Cannabis content, which has skyrocketed since its inception in 2013. With their recent acquisition of CannaReg, a compliance and regulatory outlet to navigate the ever-changing waters of Cannabis law; MassRoots is moving from the Instagram of Cannabis to the foremost digital hub for content and compliance in the growing industry.
This outlet, which originally started as Colorado Pot Guide, is quickly becoming a go-to source for Cannabis content. From finding a Cannabis-friendly place to stay when visiting the mile high state, to engaging content that gets users to challenge their knowledge about Cannabis and emerging trends in the industry; Pot Guide is an excellent reference for all things Cannabis. The content they’re putting out is purposeful and allows for an excellent platform for discussion and an enhanced understanding of the industry.
Media will continue to grow exponentially as the marketplace continues to mature. While a large portion of the growth in this industry can be attributed to hands-on operations dealing directly with Cannabis, much of the market involves businesses that never even touch a leaf. The old adage that says during a gold rush, you don’t make money digging for gold but instead selling picks and shovels, is ringing pretty true in this industry as well.
Patrick Riddle is the author of this blog and co-founder of Third day co-op which strives to get Cannabis medicine to those who need it most.